Tekla Capital Management LLC bought a new stake in Danaher Co. (NYSE:DHR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,203 shares of the conglomerate’s stock, valued at approximately $1,411,000.
Several other institutional investors have also made changes to their positions in the company. Advisor Group Inc. lifted its holdings in Danaher by 8.1% in the 4th quarter. Advisor Group Inc. now owns 16,842 shares of the conglomerate’s stock valued at $1,564,000 after purchasing an additional 1,258 shares in the last quarter. Dynamic Capital Management Ltd lifted its holdings in shares of Danaher by 86.7% during the 4th quarter. Dynamic Capital Management Ltd now owns 6,553 shares of the conglomerate’s stock worth $608,000 after acquiring an additional 3,044 shares during the period. Quantitative Investment Management LLC lifted its holdings in shares of Danaher by 292.0% during the 4th quarter. Quantitative Investment Management LLC now owns 186,200 shares of the conglomerate’s stock worth $17,283,000 after acquiring an additional 138,700 shares during the period. Fred Alger Management Inc. increased its position in Danaher by 26.6% during the 4th quarter. Fred Alger Management Inc. now owns 2,560,259 shares of the conglomerate’s stock worth $237,643,000 after purchasing an additional 537,852 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Danaher by 4.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 109,545 shares of the conglomerate’s stock worth $10,168,000 after purchasing an additional 4,238 shares in the last quarter. 77.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of Danaher Co. (DHR) traded down $0.29 during midday trading on Friday, reaching $101.93. The company’s stock had a trading volume of 2,509,196 shares, compared to its average volume of 2,157,695. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. The company has a market cap of $71,305.55, a P/E ratio of 28.88, a P/E/G ratio of 2.15 and a beta of 1.03. Danaher Co. has a 52 week low of $78.97 and a 52 week high of $104.82.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Thursday, March 29th will be paid a $0.16 dividend. This is a positive change from Danaher’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, March 28th. This represents a $0.64 annualized dividend and a yield of 0.63%. Danaher’s payout ratio is currently 15.86%.
Several analysts have issued reports on the stock. Credit Suisse Group increased their price objective on shares of Danaher from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Tuesday. Deutsche Bank reduced their target price on Danaher from $114.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, March 1st. Barclays initiated coverage on Danaher in a research note on Thursday, February 15th. They set an “overweight” rating and a $110.00 price objective on the stock. Argus raised their price objective on Danaher from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $98.00 target price on shares of Danaher in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $101.40.
In related news, insider Rainer Blair sold 51,080 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $97.26, for a total value of $4,968,040.80. Following the completion of the sale, the insider now owns 50,477 shares in the company, valued at $4,909,393.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Angela S. Lalor sold 42,988 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $102.29, for a total value of $4,397,242.52. Following the completion of the sale, the senior vice president now owns 82,008 shares of the company’s stock, valued at approximately $8,388,598.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,260 shares of company stock worth $31,657,786. 12.20% of the stock is owned by insiders.
Danaher Company Profile
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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